Agency
A Mississippi buyer's agent who is a member of the MLS submits an offer on behalf of their buyer on a listed property. The buyer's agent is compensated by:
AA fee paid directly from the buyer's own funds
BA share of the listing broker's commission as offered in the MLS cooperative compensation agreement✓ Correct
CA fee paid by MREC
DNo compensation; agents work for free on buyer transactions
Explanation
Traditionally, the buyer's agent is compensated through a share of the seller's total commission, as offered in the MLS. The buyer's agent fee may also be negotiated directly with the buyer under a buyer representation agreement.
Related Mississippi Agency Questions
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- A Mississippi transaction involves a listing broker and a buyer's broker. The listing broker receives the full commission and pays the buyer's broker a portion as co-op compensation. This arrangement means the buyer's broker is most likely:
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